Highlights of the GDP growth details released by CSO

Highlights of the GDP growth details released by CSO

The Indian economy is going to grow by 7.6 per cent during 2015-16, according to the Advance Estimates released by the Central Statistics Office (CSO) yesterday. The CSO has pegged the growth for the December 2015 quarter at 7.3 per cent, while revising the growth estimates for the June 2015 quarter upwards to 7.6 per cent from 7 per cent and for the September 2015 quarter to 7.7 per cent from 7.4 per cent earlier. The growth in cumulative GDP for the period April-December 2015 has been estimated at 7.5 per cent. This means that the economy will have to grow by 7.7 per cent in the last quarter if it has to achieve the CSO’s growth target for 2015-16.

The government has been striving to push growth in Asia’s third-largest economy since it took office in May last year, promising a spending boost and moving to clear up a regulatory logjam that has held up large infrastructure projects. The latest data released by the statistics department on Monday showed India’s gross domestic product (GDP) growth slowed to 7% in the April-June quarter from 7.5% in the January-March quarter as measured at market prices. Another measure—gross value added (GVA) at basic prices—showed that economic growth accelerated to 7.1% in April-June against 6.1% in January-March.

Private final consumption expenditure (PFCE), according to the CSO, will drive the growth of the economy in the last quarter. PFCE has grown by 6.1 per cent till December 2015. The CSO expects the fiscal year 2015-16 to end with a 7.6 per cent growth in PFCE. This means that it has assumed an 11.7 per cent growth in PFCE for the last quarter.

http://www.jagranjosh.com/current-affairs/cso-released-estimates-of-gdp-for-apriljune-quarter-of-201516-1441099934-1